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Interest Rate

   Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Acronyms, Wikipedia 0.03 sec.
Interest Rate 

the rate of interest for loaning money, the ratio of the amount of income from a loan to the total loan.

In precapitalist formations, usurious credit was the basic form of credit, and if no special legislative restriction existed in a country, the interest rate had virtually no limit. Under capitalism, the interest rate fluctuates within the average profit rate, depending on the supply and demand for loan capital. Nowadays, it is also influenced by inflation processes, international flows of capital, the state-monopoly regulation of credit, and other factors. Under socialism, the interest rate is set by the state in a planned manner and is not subject to spontaneous fluctuations.



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If you are planning to get a mortgage, or are considering refinancing, you have to be familiar with this information, predominantly in the case of refinancing, given that current interest rates are required to be at a certain point comparative to your mortgage interest rate earlier than refinancing is financially advantageous.
6442) however, the GBP/USD may hold a narrow range ahead of the Bank of England interest rate decision as investors anticipate the central bank to hold the benchmark interest rate at the record-low of 0.
 
 
 
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